Lower Prices Plague U.S. Housing Market

The July 2018 Elliott Wave Theorist showed this chart of U.S. real estate prices [wave labels available to subscribers] and said:


Another wave of falling prices dead ahead.

Sure enough, a Dec. 30 CNBC headline reads:

A new report says New York City's real estate downturn is deepening

Then, on Jan. 2, CNBC had another real estate article that discussed the entire country:

It looks like 2019 could be a buyer's market in real estate, but that's not necessarily a good sign for the economy.

Home prices, while still higher than a year ago, are pulling back in most major markets, according to a report released [Jan. 2]. Values in November were 5.1 percent higher compared with November 2017, CoreLogic said. That is down from the 5.4 percent annual gain seen in October. CoreLogic is now projecting a smaller, 4.8 percent gain in November 2019.

The decline in asking prices comes as sellers face a new reality of higher interest rates and affordability worries among potential buyers.

You are encouraged to read the free report, "What You Need to Know Now About Protecting Yourself from Deflation." Enter your email address below to get immediate access -- it's Free!

By submitting this form you authorize EWI to send regular emails and updates. You may unsubscribe from our mailing list at any time.